Double-Dip In Housing Almost Here, According To Case-Shiller Index
Housing markets have taken a turn for the worse, with the widely followed S&P/Case-Shiller index declining more than analysts had forecast in October.
Palm Coast, FL – December 28, 2010 – Housing markets have taken a turn for the worse, with the widely followed S&P/Case-Shiller index declining more than analysts had forecast in October, lending credence to the housing bears who have predicted a double dip.
The real-estate sector has been one of the sticking points in the Fed and the government’s attempts to revive the U.S. economy. The 20-city composite S&P/Case-Shiller Index, which measures the value of single homes in 20 metropolitan areas, declined 1% from September to October on a seasonally adjusted basis, S&P said Tuesday. That exceeded the 0.8% dip expected by Wall Street analysts. The index, which takes January 2000 as its base with a value of 100, hit 145.32, making October the fifth consecutive month where annual growth rates moderated from their prior month’s pace.
Read More >>>> Forbes
Leave a Reply
Want to join the discussion?Feel free to contribute!